How do you develop effective KPIs? 10 simple steps for any business

Of course Key Performance Indicators (KPIs) are important in business. But, when push comes to shove, KPIs are only really useful if you identify the right ones for your business. And they will only deliver mission-critical data if you use the KPIs and analyse what they tell you on a regular basis to inform your decision making.

In this article I outline 10 essential steps that will help you do just that. By following these steps, you can ensure your business doesn’t fall prey to the common KPI errors companies (both big and small) make. 1. Start with strategy – You should always start with strategy. Without a firm stake in the ground around what your business is seeking to achieve, it’s incredibly easy to end up with a dauntingly long list of possible indicators that you feel you could or should measure.

Author: Bernard Marr


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